Vedanta set to raise Rs 3,000 crore via bonds: Report

India's Vedanta is set to raise 30 billion rupees ($329.89 million) through a sale of shorter-duration bonds before the end of March, in its second bond issue in the current fiscal year, two sources ‌aware of ⁠the matter ⁠said on Wednesday.

The metals-to-oil conglomerate is likely to ​sell two-year bonds or three-year bonds, or a combination of both, ​the sources said, requesting anonymity, as they are not authorised to speak to the media.

"The company has ​already initiated talks with ⁠a few investors, ‌including mutual funds, and after receiving ​the ​board approval today, things should speed up, ⁠and they would ideally target completion of this ​round in the first half of ​March," one of the sources said.


Vedanta did not immediately reply to a Reuters email seeking comment.

Last June, the company raised an aggregate of 50 billion rupees through a combination of two-year ‌papers, 30-month bonds and three-year bonds.

Vedanta Chief Financial Officer Ajay Goel said last ​month that the ​company aims ⁠to list its four planned demerged units on Indian exchanges by the middle of May.

Vedanta's restructuring will spin ​off four businesses - steel and ferrous metals, oil and gas, aluminium, and power - into separately listed companies, while its base metals unit will remain with the parent. ($1 = 90.9390 Indian rupees)